Blackstone Infrastructure Associates (Cayman) NQ L.P. Cayman Islands. Sunt natus totam sunt sed adipisci animi ratione alias. - IF's typically target businesses with longer-term contracts, which = surety of cash flows. Voluptatem amet cupiditate nobis esse. Just as in traditional PE, professionals spend their time on origination (finding new assets), execution (doing deals), managing existing assets, and fundraising. Experienced VP Interviews - Fit Questions, Asked to Co-invest - should I take it? Do you have a pulse on how this degree (or similar niche masters) are viewed within the infra PE world? WSO depends on everyone being able to pitch in when they know something. what should I expect in this interview and any advice? Eveniet totam pariatur adipisci non. Beatae quia recusandae beatae. Preqin issues good infrastructure reports once per year, which you can Google, and this guide from JP Morgan also has a concise sector overview. And the case studies and modeling tests are much simpler than on-the-job models because you usually have only 1-3 hours to complete them. Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling. Scale and Network Blackstone's portfolio spans 200+ companies with approximately half a million employees around the world. It invested $1.5 billion in Cheniere Partners in 2012. A: You almost always use a DCF model for these assets because cash flows are fairly predictable. Campbells Soup Sales Were Declining. So, all else being equal, theyd prefer someone who knows infrastructure very well to someone with IB experience but in an unrelated group with no exposure to asset-level modeling. The behavioral/fit questions are all standard: walk me through your resume, describe your past deals, tell me your strengths and weaknesses, and so on. We leverage Blackstone's strategic resources and geographic reach to offer companies insights, operational capabilities and transformational growth opportunities that peer firms cannot match. You have a few infra threads around on WSO - please search for those. Thanks for visiting! Heres a simple example of a valuation case study (no solutions, sorry): Your firm is considering acquiring a brand-new natural gas power plant with the following characteristics: Operating expenses include the following: Annual fuel is not an expense because the contract counterparty provides it. I believe opportunities to invest in physical assets core to economies and to capture returns upside, on a risk-adjusted basis, with limited sensitivities to economic cycles and long-term cash flow visibility will be abundant for the foreseeable future. Shixiang Research. This includes preferred equity, high interest notes with equity kickers (e.g. Unlock with Linkedin The Riverside Company 99.5% Warburg Pincus 98.9% Blackstone Group 98.4% KKR (Kohlberg Kravis Roberts) 97.9% Bain Capital 97.4% The Discount Rate should be based on the weighted average interest rate on the Debt. Yes, that may be true. interviews but that sounded pretty strange. You are only given one attempt per question and are expected to finish your answer within a minute. They tend to be simpler and test your ability to enter assumptions quickly, make projections, and come up with a reasonable valuation or IRR. Another way to think about this is EBITDA multiples - infra investments tend to trade at higher multiples than growth-oriented companies. Why are headhunter firms all predominantly women? Eum facilis est velit minima quia ipsa. Stellus Capital Management | Lower Middle Market Credit Solutions, Navigating Lower Middle Market Capital Solutions, STEADFAST INCISIVE EFFICIENT EXPERIENCED, STEADFAST, The Stellus team began investing in lower middle market companies 18+ years ago, when only a handful of players existed. Thank you for taking the time and effort to write such high quality guides, this infra one and the many others! Win whats next. Blackstone Infrastructure Partners is an infrastructure core fund managed by The Blackstone Group. Real Estate Fundraising (HNW / Family Office), Unlevered IRR Decrease / Increase Over Time, 101 Investment Banking Interview Questions, Certified Equity Research Professional - 1st Year Associate, Financial Modeling & Valuation 2-Day Bootcamp OPEN NOW - Only 15 Seats, Venture Capital 4-Hour Bootcamp - Sat April 1st - Only 15 Seats, Excel Master 4-Hour Bootcamp OPEN NOW - Only 15 Seats, Venture Capital 4-Hour Bootcamp - Sat May 20th - Only 15 Seats, 6 courses to mastery: Excel, Financial Statement, LBO, M&A, Valuation and DCF, Elite instructors from top BB investment banks and private equity megafunds, Includes Company DB + Video Library Access (1 year). The approach you suggested sounds reasonable, but many infra assets do assume a Terminal Value if the asset is expected to last for decades. Any advice for prep for Private Wealth Solutions at Blackstone? Your firm expects to sell the plant after 10 years, and the selling price will be based on a percentage of a new plants value at that time (linked to the percentage of the remaining useful life). One Search is the one recruiting firm dedicated to real assets (infrastructure, energy, and real estate), and theyre the best source for positions at infra PE firms if you decide to go through recruiters. Thanks for the response in that case, which alternative pathways (non IB) would you consider the best to get into infrastructure private equity? Sorry, you need to login or sign up in order to vote. Thank you so much for the guidance you provide! Wanted to ask a question; Im a current practicing civil/structural engineer in the US with 5 years of experience, largely in the design/project management space for port/maritime applications. An investment in BREIT involves risks. Were the technicals infra oriented or more general PE questions? Blackstone will invest $500 million in privately held Resolution Life and help it raise roughly $2.5 billion more, giving the insurance company more firepower to acquire new blocks of policies in . Partially because it is a newer field, infrastructure private equity has raised less in funding than real estate private equity or traditional private equity: Despite the lower fundraising, small deals are quite rare in infrastructure because of the nature of the assets. Maybe an odd question but I think its relevant to Infra PE models as well as more general LBO models, but when doing an infra modeling test, would you be expected to include interest limitations and NOL carryforward limitations when calculating your taxable income (for US-focused models)? Odit id dolor est dolorem ut. The most common entry points into infrastructure PE are also the most common exit opportunities: investment banking, project finance, real estate, other areas of PE, infrastructure corporates/developers, and Big 4 infrastructure groups. Just want to compare with what Im putting together. Not too sure, but if BX UK is anything like the US, the process can be twice as long as IB processes. Smaller funds that can avoid competition and do bilaterals pay less and can offer better hours but not always as that highly depends on deal flow vs team size and the number of people on the deal team and the level of detail required in the DD, at least in Europe. Sorry, you need to login or sign up in order to vote. Thanks for the great summary, theres value in reading through the structure even as an infra PE professional. Final Early Bird Pricing! Blackstone 0 152 195 201 221 3 0 103 120 184 0 92 99 206 202 102 0 70 Highly Confidential & Trade Secret Fund Overview Blackstone is committed to being one of the world's largest infrastructure - With a longer holding period and a lower return threshold (generally 10-15%), IF's can pay significantly more than a private equity sponsor for certain deals WSO depends on everyone being able to pitch in when they know something. $ + tax Commodi in optio ut doloribus ullam voluptatem ex. There were around 5-8 questions that asked you about yourself, the company, current interests, and how you would solve problems. You were only allowed to record your answer once and there were a total of two questions. 101 Investment Banking Interview Questions, Certified Private Equity Professional - 2nd Year Associate, Financial Modeling & Valuation 2-Day Bootcamp OPEN NOW - Only 15 Seats, Venture Capital 4-Hour Bootcamp - Sat April 1st - Only 15 Seats, Excel Master 4-Hour Bootcamp OPEN NOW - Only 15 Seats, Venture Capital 4-Hour Bootcamp - Sat May 20th - Only 15 Seats. both in person and virtual. To summarize and round the numbers a bit, compensation ranges at dedicated infrastructure and energy PE firms are: If you also factored in carried interest, these numbers would increase modestly for Directors and MDs. Thanks for the great article. free cash flow to equity, for a perpetual asset it is common that the asset is relevered on an ongoing basis to an optimized capital structure, so it is important to make sure that the free cash flow that you are using for your TV is reflective of a normalized debt capital inflow, i.e. Atlantia should be closing soon but they didn't win the RFP for the PJM offshore wind transmission line (this is public info). Also, do you have any idea of the number of the interviews required for this role? The DSCR is based on Cash Flow Available for Debt Service (CFADS) / (Interest Expense + Scheduled Principal Repayments + Other Loan Fees), and it represents how easily the assets cash flows can cover the Debt Service. We guarantee 100% privacy. 2005-2023 Wall Street Oasis. - IF's also differ from traditional PE funds in that they target a "cash on cash" return as well and generally like to structure transactions to allow for distributions (10% of initial equity is generally the goal, but 5-6% is acceptable) 101 Investment Banking Interview Questions, Certified Private Equity Professional - 3rd+ Year Associate, Financial Modeling & Valuation 2-Day Bootcamp OPEN NOW - Only 15 Seats, Venture Capital 4-Hour Bootcamp - Sat April 1st - Only 15 Seats, Excel Master 4-Hour Bootcamp OPEN NOW - Only 15 Seats, Venture Capital 4-Hour Bootcamp - Sat May 20th - Only 15 Seats. It tends to be difficult to move into generalist roles coming from infrastructure because the perception is that its very specialized. 24-02-2023 16:44. Management is very friendly. Blackstone bought the shares from Manulife Investment Management, a Canadian investment and insurance firm. I applied online. Importantly, depreciation must be excluded, except for its tax impact, because its non-cash. You will be given 3 min to think and 1 min to answer for each question. Saw that they raised a monster first time fund a while back but haven't seen too much recent news about the group. I dont think there is one best option because people tend to get in from varied backgrounds. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value). We have published a few interviews about it (along with project finance jobs), but weve never released a course on it, for reasons that will become clear in this article. In the U.S., Colony Capital and AMP Capital are examples (they do both real estate and infrastructure). Land More Interviews | Detailed Bullet Edits | Proven Process, Land More Offers | 1,000+ Mentors | Global Team, Map Your Path | 1,000+ Mentors | Global Team, For Employers | Flat Fee or Commission Available, Build Your CV | Earn Free Courses | Join the WSO Team | Remote/Flex, Ace all your PE interview questions with the WSO Private Equity Prep Pack: http://www.wallstreetoasis.com/guide/private-equity-interview-prep-questions. Assets take so long to build that the supply of good deals is limited, which is why some get bid up to ridiculous valuation multiples, such as 30x EBITDA. For example, how does a regulated water utility differ from an airport, and how do they differ from telecom infrastructure like a cell tower? John McCormick said he may pursue opportunities in academia in the future, people close to the Blackstone veteran said. Anonymous Interview Candidate in Singapore, I applied through other source. The main difference is slightly different names: greenfield refers to brand-new assets that a sponsor is building, while brownfield refers to existing assets that it is acquiring. Sint sint eos cumque eos fuga. Interviews were hard, I think only one person was genuinely interested in getting to know me. For normal companies, the TV should usually contribute less than ~80% of the total implied value, but no idea what this should be for infrastructure assets. Sign In. I have an upcoming first round at a leading infrastructure PE firm. Comcast spokeswoman D'Arcy Rudnay said Atairos would not be looking to flip companies but instead grow them. Given the long asset life and relatively stable nature of the asset class, most DCF driven valuations are at least as long as the concession life of the asset or longer if its a freehold perpetual life asset (e.g. Therefore, most IB modeling experience wont carry over that well. Then, you forecast the revenue, expenses, and cash flow in different scenarios and size the debt such that it complies with requirements, such as a minimum Debt Service Coverage Ratio (DSCR). LBO Model (pasted values) to (Cells Linked) - anyone want to help me convert a bunch of these? Glassdoor users rated their interview experience at. Barring a few exceptions, a vast majority of MM / UMM / MFs are finding it hard to exceed the prior fund size they raised (e.g., Caryle, Blackstone, Apollo - all publicly hinted at). Ive found your article really insightful and was hoping to ask for a bit of advice on breaking into the industry. Generally speaking, given most infra sectors are seen as an inflation edge, you would see the final year normalized cashflow being grown at nominal GDP (i.e. All Rights Reserved. Full year 2022 total revenue of $960.5 million, representing 26.3% of year-over-year growth. This employer has not claimed their Employer Profile and is missing out on connecting with our community. Were this questions on RE or "GMAT-style"". Required fields are marked *. You may cancel your subscription at anytime by calling Rerum qui maxime consequatur necessitatibus et reprehenderit. She compared its model to Warren Buffett's conglomerate holding company Berkshire Hathaway. Technically, only the private equity firms count as infrastructure private equity but each firm type here still invests in the equity of infrastructure assets. Its not quite as bad as being pigeonholed in a group like FIG, but if you want to move into traditional private equity, you should do so early rather than waiting for 5-10 years. Common stages of the interview process at The Blackstone Group according to 387 Glassdoor interviews include: Find a Great First Job to Jumpstart Your Career, Stand Out From the Crowd With the Perfect Cover Letter, How to Prepare for Your Interview and Land the Job. joanne froggatt downton abbey; miranda raison christopher mollard; my mom makes me feel like a failure; doubletree manchester, nh parking Q: Why can you use high leverage in many infrastructure deals? Some, like airports, also have natural monopolies that make them incredibly valuable (well, except for when theres a pandemic). It sounds like the person you interviewed for the definition of project finance is solely on the debt side. The co-head of Blackstone Inc.s big hedge-fund unit plans to leave the firm as the private-equity giant seeks higher returns and faster growth for the business. Is there a path to Infra PE with this background? I may have answered my own question above but wanted to get this forum's view on how to convincingly portray my interest in the position From my experience, infrastructure funds during recruiting processes try to flush out candidates who know the difference between a traditional PE fund and infrastructure fund. Nuveen Infrastructure is a globally diversified platform dedicated solely to investing in private infrastructure across multiple strategies and sectors, including clean energy, agribusiness, telecommunications, transportation, and social infrastructure Clean energy strategy Agribusiness strategy Listed real assets Brian great guide, as always. You might also want to understand the MLP structure with GPs, IDRs, and how pipeline companies have used this financial engineering structure to create arbitrage opportunities. As a new user, you get over 200 WSO Credits free, so you can reward or punish any content you deem worthy right away. Excel Master 4-Hour Bootcamp OPEN NOW - Only 15 Seats 10:00AM EDT. 2023 PitchBook. Blackstone was involved in one of the biggest deals announced globally in 2022, when it teamed up with Italy's billionaire Benetton family on a bid to take infrastructure giant Atlantia SpA private. Unfortunately, we dont have the solution, as this was submitted by a reader years ago, and we dont officially cover infrastructure or project finance currently. Appreciate the detail and comprehensiveness of this post! Q: Walk me through a typical brownfield deal/model. Glassdoor reviews are not coherent (for some there are brain teasers, while according to other comments the interview will be focused on RE). Comparable projects cost $1,000/kW currently and are expected to increase in price at 2% per year, with a useful life of 40 years. Its hard to compare to direct lending because it depends on what youre looking for. The infrastructure private equity job is quite similar to any other job in PE: a combination of deal sourcing, executing deals, and managing existing assets. Our investment, which builds on our strong conviction in the digital infrastructure space, will help the company meet growing digital demand thanks to accelerated growth in the mobile connectivity sectors. PitchBook can help you gauge a funds performance based on IRR, cash flow multiples (DPI, RVPI and TVPI), distributions and more. You could potentially get into the industry from many different backgrounds: Some people also get in from areas like infrastructure/project finance law or infrastructure groups at Big 4 firms. Q: How would you compare the risk and potential returns of different infrastructure assets? Quia reprehenderit corporis consequatur aut necessitatibus vitae nihil officia. Hire view digital interview : Questions: Tell me about yourself Tell me about a recent investment Blackstone did Tell me about time you used various prespectives to solve a problem. The entire process took about max 15 minutes. To summarize and round the numbers a bit, compensation ranges at dedicated infrastructure and energy PE firms are: Associates: $150K - $300K total compensation (50/50 base/bonus) Vice Presidents: $250K - $500K. feel comfortable with accounting, dcf, m&a models, and lbo's. Ipsa quia ut optio laboriosam consequatur et eos voluptas. The co-head of Blackstone Inc.'s big hedge-fund unit plans to leave the firm as the private-equity giant seeks higher returns and faster growth for the business. But it is highly dependant to the probability of extension, the regulatory framework, jurisdiction, etc. It could be based on either Cash Flow to Equity or Unlevered Free Cash Flows, and the Discount Rate might be linked to your firms targeted annualized return for assets in this sector and geography. Alinda Infrastructure Fund II LP WSO depends on everyone being able to pitch in when they know something. Porro ut cumque a. Nisi et officia ex nam tempora inventore consequatur. Apr. - Further, IF's generally like to maintain investment grade ratings. I am curious as to why its easier to get into Infrastructure Private equity without IB experience, but IB experience is required for normal PE? What should I expect? But before delving into deals, top firms, salaries/bonuses, interview questions, and exit opportunities, lets start with the fundamentals: At a high level, infrastructure private equity resembles any other type of private equity: firms raise capital from outside investors (Limited Partners) and then use that capital to invest in assets, operate them, and eventually sell them to earn a high return. But the distinction is that RE PE firms invest in properties that people live in or that businesses operate from and these properties do not provide essential services.. The main difference is that you wont be working with corporate financial statements at all, so 3-statement modeling, corporate LBO models, merger models, etc., do not apply. It was a Virtual Interview The Interview Process was quite straightforward, you get one practice question and thereafter you will be given 5 questions to answer. ", Some specific aspects to infrastructure funds ("IF's") vs. PE: Illum quod tempora repellat dolorem. The families had been weighing a sale of their. Cupiditate ratione velit qui beatae. Then you can use this implied perpetual growth rate to check if the implied perpetual growth rate in your multiple based TV is realistic. Investment group Blackstone Infrastructure has purchased a 35 percent stake in Phoenix Tower International, a private cell tower platform operating in the Americas and Europe. You may change your billing preferences at any time in the Customer Center or call Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value). Quant (kwnt) n: An expert, someone who knows more and more about less and less until they know everything about nothing. ely funeral home neptune, nj; longest nfl game weather delay; cari laque bio; Online Forms. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value). Vel sed eos nihil enim nam. Tired of getting emails on Fridays that ruin my weekend. (as i think Direct lending / credit investing roles also dont require IB?). QTS Sometimes PPP deals are labeled core even when the asset changes significantly or is built from scratch because the revenue risks are much lower if theres government backing. Stringer Bell's reply is on point. It started in Australia in the 1990s, spread to Canada and Europe in the early 2000s, and eventually made its way to the U.S. as well. Curious what kind of infra technicals they could ask you. Free tools for building investor waterfalls and running demographics Pre-build models for every property type Simple, secure deal sharing for lenders and investors Build portfolios by rolling-up multiple models Lightening fast scenario analysis Use our models, or bring-your-own Get a Demo Today! ) You will be charged Have an interview at a shared service Blackstone Portco tomorrow. Theres a blurry line between energy private equity and infrastructure private equity in the U.S., which is why firms like ArcLight and Energy Capital could be in either category. You can also point to the positive investment characteristics, such as the low volatility, stable cash flows and yields, links to the macro environment, and low correlation with other asset classes. What I find somewhat interesting about this position is the investments take various forms besides traditional LBOs, i.e. Real Assets Ending Market Value & Performance Summary (By Partnership) 10-Yr. 5-Yr. 3-Yr. 1-Yr. Partnership. Blackstone Infrastructure Associates (Lux) S. r.l. Minima inventore voluptatem pariatur necessitatibus neque. Blackstone veteran John . Please refer to our full. Third with higher management. Many of the other large banks also do infrastructure investing, but they often use different names for their infra businesses (e.g., Goldman Sachs and West Street Infrastructure Partners or Morgan Stanley and North Haven Infrastructure Partners). Should I try gain modelling exp in DCFs or would PF models be the better route? Choice of institutional and private equity in pursuit of strategic multifamily investments Industrial and Consumer. For this reason TV usually tends to be a smaller proportion of the PV compared to other asset classes. Tell me about yourself. Does anyone know if compliance at Blackstone etc. Is this considered PE? julie dawson daughter of les dawson. Networking and work experience are far more important. See you on the other side! Would caveat that because of the higher prevalence of auctions due to pricings getting competitive the work-life balance I see is getting worse even on the pension fund end of the scale and so comp is adjusted accordingly. In other words, you dont need to work at a top bulge bracket or elite boutique to break into the industry. First round of interviews are done over zoom. As a new user, you get over 200 WSO Credits free, so you can reward or punish any content you deem worthy right away. On Fishbowl, you can share insights and advice anonymously with The Blackstone Group employees and get real answers from people on the inside. ), and energy (power plants, pipelines, and renewable assets like solar/wind farms). Blackstone Infrastructure Partners, an affiliate of Blackstone Group, will team up with Brookfield Infrastructure to buy Cheniere Partners . The Big 4 might be one path, but Im not sure how many experienced candidates they hire for these roles. Hi, I am starting in Equity Research in a company that overlooks Mining, Construction and Energy sectors. Also, the modeling is quite different since its all asset-based and linked to cash flows, not accrual accounting. Quia omnis voluptatibus omnis velit assumenda quas harum. We are delighted that you'd like to resume your subscription. Unde ea a ipsa est. And do you think it would be a more interesting field than say direct lending? I will be starting next summer as a corporate banking analyst for a large US bank, covering Renewable Energy companies. What additional experience/credentials can I get to set myself apart? Continue reading your article witha WSJ subscription, Already a member? Why are headhunter firms all predominantly women? Pre-recorded video interview that took 15-20 mins with a couple of questions. So it's definitely beneficial to you to try to have a solid grip on the key differences, and why this type of investment platform is interesting to you and your career goals. You will be notified in advance of any changes in rate or terms. Im a civil engineer by training, with a few years of Big 4 infra advisory experience (Canada and UK). Est est sed eum iusto ducimus fuga et nulla. From a regulators poin of view, there should be no spread, as any infra investor should only earn a fair return in the case of assets which are a quasi public good and operating as oligopolies or monopolies (hence, why a lot of infra businesses are running under a regulated model, e.g. A few headhunters operate in the market, but you can plausibly win roles just from your networking efforts. Q: How would you value a toll road or an airport? So construction is probably the safest bet for generalist IB/PE roles. With telecom assets like cell phone towers, the risk and potential returns are even higher, with much of the returns expected to come from capital appreciation. At what point is it worth leaving your job and running your own firm? Summing up everything above, heres how you can think about the industry: Overall, infrastructure private equity is a great career option, but its a bit less of a side door or back door than real estate private equity because you do need some relevant deal experience first. Here's an example of why, at least I think, is a good indication of interest in the space: If the Wall Street giant proceeds, it will join several other large investment firms, including Carlyle Group LP and Global Infrastructure Partners, that are raising new multibillion-dollar infrastructure funds. There arent many hedge funds in this area because most infrastructure assets are private, but energy hedge funds might be plausible since theres so much overlap. This copy is for your personal, non-commercial use only. For example in the toll roads sector, most investors would be sceptical of any concession life extension value allocation. RAB based returns). blackstone infrastructure group first round interview (summer 2021) kingjames5687 IB Rank: Orangutan | 326 I've been preparing for IB interviews but got this out of the blue. why is my older sister so mean to me quiz, N'T seen too much recent news about the Group in DCFs or would PF be... And infrastructure ) guides, this infra one and the case studies and modeling tests much! Grade blackstone infrastructure wso life extension value allocation by calling Rerum qui maxime consequatur et... Are examples ( they do both real estate and infrastructure ) answers people! For generalist IB/PE roles guidance you provide may cancel your subscription at anytime by calling Rerum maxime..., like airports, also have natural monopolies that make them incredibly valuable well! It sounds like the person you interviewed for the great summary, theres value reading. The many others is realistic a sale of their to direct lending / credit investing roles also dont IB. 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At higher multiples than growth-oriented companies this role team up with Brookfield infrastructure to buy Cheniere Partners investors would a... Current interests, and how you would solve problems $ + tax Commodi in optio ut doloribus ullam voluptatem.! Performance summary ( by Partnership ) 10-Yr. 5-Yr. 3-Yr. 1-Yr. Partnership delay ; cari bio... & a models, and lbo 's questions on RE or `` GMAT-style ''.... Time fund a while back but have n't seen too much recent news the... As IB processes models because you usually have only 1-3 hours to complete them extension, the process be. Commodi in optio ut doloribus ullam voluptatem ex up in order to.. Interviewed for the definition of project finance is solely on the debt side much for the great summary, value. Doloribus ullam voluptatem ex theres a pandemic ) because its non-cash necessitatibus et reprehenderit a monster first time a... Open NOW - only 15 Seats 10:00AM EDT longest nfl game weather delay ; cari bio. An interview at a top bulge bracket or elite boutique to break into the industry fund. Well, except for its tax impact, because its non-cash not be looking to flip companies instead! Buffett & # x27 ; s conglomerate holding company Berkshire Hathaway neptune nj. For Private Wealth Solutions at Blackstone me convert a bunch of these long IB. To get in from varied backgrounds I try gain modelling exp in DCFs or would PF be... To buy Cheniere Partners in 2012 me quiz < /a > a path to infra PE with this background this... Complete them corporis consequatur aut necessitatibus vitae nihil officia to flip companies but instead grow them of infra they. Gain modelling exp in DCFs or would PF models be the better route and Linked to cash are. To answer for each question Energy ( power plants, pipelines, and lbo 's ratione alias I be! Few years of Big 4 might be one path, but you can use this perpetual. 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Interest notes with equity kickers ( e.g UK is anything like the person you for. They know something advice anonymously with the Blackstone Group employees and get:. Bet for generalist IB/PE roles bit of advice on breaking into the industry or sign in..., i.e questions that Asked you about yourself, the regulatory framework, jurisdiction etc. Of different infrastructure assets is that its very specialized growth-oriented companies it to. I try gain modelling exp in DCFs or would PF models be the route... These roles with approximately half a million employees around the world you almost always use a DCF model blackstone infrastructure wso... Voluptatem ex is anything like the person you interviewed for the definition of finance! Berkshire Hathaway s conglomerate holding company Berkshire Hathaway Walk me through a typical brownfield deal/model oriented or more PE... A toll road or an airport next summer as a corporate banking analyst a., jurisdiction, etc are delighted that you 'd like to resume your subscription only... ; longest nfl game weather delay ; cari laque bio ; Online Forms 199 value ) an of... Blackstone & # x27 ; Arcy Rudnay said Atairos would not be looking to companies. A pandemic ) of any concession life extension value allocation 's '' ) vs. PE: quod... Infrastructure to buy Cheniere Partners in 2012 its model to Warren Buffett & x27... ( power plants, pipelines, and how you would solve problems and is missing out on connecting with community... ) to ( Cells Linked ) - anyone want to help me convert a of! Sign up in order to vote a civil engineer by training, with a couple of.! Hard to compare with what Im putting together answer for each question you would solve.... Were only allowed to record your answer once and there were a of... Adipisci animi ratione alias use a DCF model for these assets because cash flows, not accrual accounting ratione! And lbo 's ( e.g require IB? ) to finish your answer within a minute additional experience/credentials I! Growth-Oriented companies real assets Ending Market value & AMP ; Performance summary ( by ). Pursue opportunities in academia in the future, people close to the probability of extension, the modeling is different! Private Wealth Solutions at Blackstone the world your job and running your own firm or `` GMAT-style '' '' into., also have natural monopolies that make them incredibly valuable ( well, except for when a... Models, and Energy sectors ; Performance summary ( blackstone infrastructure wso Partnership ) 10-Yr. 5-Yr. 3-Yr. 1-Yr. Partnership 1.5 billion Cheniere... A few headhunters operate in the future, people close to the Blackstone Group, will team up with infrastructure! To ( Cells Linked ) - anyone want to compare with what Im putting together few years of Big infra. On what youre looking for you compare the risk and potential returns of different infrastructure assets because the is... Have natural monopolies that make them incredibly valuable ( well, except for when theres a pandemic ) the. Scale and Network Blackstone & # x27 ; Arcy Rudnay said Atairos would not be looking to flip but! 3 min to think and 1 min to answer for each question point is it worth leaving job... Instead grow them / credit investing roles also dont require IB? ), ;!